| Case ID |
2d0c921f-29fc-4a4a-bdca-deedefa0d3c1 |
| Body |
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| Case Number |
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| Decision Date |
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| Hearing Date |
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| Decision |
The court dismissed the petitions filed under sections 451 and 482 of the Criminal Procedure Code. The court found that there was no prior petition filed under section 451 before the Chief Judicial Magistrate regarding the return of seized money. Furthermore, the amounts in individual bank accounts had not been seized and thus could not invoke the powers under section 451 or 482 at this stage. The court emphasized that the seized currency notes were not subject to speedy decay, and it was not expedient in the interests of justice to return the amounts to the petitioners. The petitions were dismissed as the court found no legal basis for the requests made by the petitioners. |
| Summary |
This case revolves around the search and seizure operations conducted under the Income-tax Act, 1961, specifically section 132, where a firm named 'Vazhga Vaiagam Enterprises' was accused of promoting illegal money circulation schemes. The Madras High Court, presided over by Janarthanam, J., dismissed the petitions filed by K. Palaniswamy seeking the return of the seized amounts and the lifting of restrictions on bank accounts. The court ruled that the seized currency notes did not require expedited return as they were not subject to decay, and there was no prior legal application made to the Chief Judicial Magistrate for the return of the seized funds. The decision reinforces the importance of following proper legal channels in cases of asset seizure. Keywords such as 'income tax', 'money circulation schemes', and 'legal proceedings' are essential for understanding the implications of this ruling. |
| Court |
Madras High Court
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| Entities Involved |
Vazhga Vaiagam Enterprises,
Assistant Director of Income-tax
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| Judges |
Janarthanam, J.
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| Lawyers |
S. Chellaswamy,
P.L. Narayanan,
G. Kumaravel,
Ramasamy,
J.I. Rajkumar Roberts
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| Petitioners |
K. Palaniswamy
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| Respondents |
State
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| Citations |
1992 SLD 1736,
(1992) 197 ITR 455
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| Other Citations |
Not available
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| Laws Involved |
Income-tax Act, 1961,
Criminal Procedure Code, 1973,
Prize Chits and Money Circulation Schemes (Banning) Act, 1978,
Indian Penal Code, 1860
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| Sections |
132,
451,
482
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